Services

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....acilitating or arranging transactions in securities or separate consideration is charged for conversion of money from one form to another form denomination. As per An Education Guide - Guidance Note 2 - What is Service? 'Service' has been defined in clause (44) of the new section 65B and means - ♦ any activity ♦ for consideration ♦ carried out by a person for another ♦ and includes a declared service. The said definition further provides that 'Service' does not include - ♦ any activity that constitutes only a transfer in title of (i) goods or (ii) immovable property by way of sale, gift or in any other manner ♦ (iii) a transfer, delivery or supply of goods which is deemed to....

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.... of a deeming provision, to the general rule that only services provided by a person to another are taxable. As per these deeming provisions establishment of a person located in taxable territory and establishment of such person located in non-taxable territory are deemed to be establishments of distinct persons. Further an unincorporated association or body of persons and members thereof are also deemed as separate persons. For implications please see point no 2.4.2 of this Guide. ♦ Explanation 4 explains that a branch or an agency of a person through which the person carries out business is also an establishment of such person. Para 2.1.1 of An Education Guide - What does the word 'activity' signify? * 'Activity&#39....